SECOND INNINGS

The second-largest carmaker in the country, Hyundai Motors India (HMIL), has been reenergised post listing on the bourses. How is HMIL gearing up for a life as a listed auto company? What can consumers expect from it in 2025?

- Ashish Sinha

WITH ITS stock market debut on October 22, 2024, Hyundai Motor India (HMIL) has truly embarked on its second innings as one of the leading carmakers in India ushering in both growth and transparency for Indian customers and investors. HMIL has been a dominant force in the Indian automotive market since its entry in 1996, firmly establishing itself as the secondlargest carmaker by sales. Globally, its parent, Hyundai Motor Company (HMC) ranked the third-largest automotive OEM in 2023 based on passenger vehicle sales.

HMIL's Rs 27,870 crore Initial Public Offering (IPO), the largest in India's history, marked a key milestone for the company. The issue was subscribed 2.37 times, though retail investor participation was tepid. Hyundai executives described the IPO as a demonstration of the company's long-term commitment to India, with the listing ceremony attended by Hyundai Motor Group Executive Chair Euisun Chung and Hyundai Motor Company President and CEO Jaehoon Chang.

Reflecting on the company's India journey, Chung said, "We knew that India was the future. That is why we continuously increased investments, expanded our R&D capabilities, and created more than 250,000 jobs." He emphasised HMIL'S focus on maintaining governance standards, driving localisation efforts, and advancing future technologies within India.

Market insiders revealed that the IPO had been in discussions for nearly seven years, with J.P. Morgan, the senior book runner and lead manager, leveraging its deep relationship with HMC in South Korea to facilitate the listing.

SUVs form the cornerstone of HMIL's domestic sales strategy, contributing 63 per cent of volumes, followed by hatchbacks at 23 per cent and sedans at 14 per cent.

This strong SUV focus, coupled with HMIL's post-listing ambitions, positions the company to capitalise on India's evolving automotive landscape while strengthening its leadership in the market.